Bill Sinn | May 07, 2019

Insurers are responding to increasing rates of sophisticated fraud by deploying analytic capabilities that have the sophistication to identify components of fraud within valid claims as well as to identify individual and widespread illegitimate claims. In a new report, Claims Fraud Analytics: Overview and Prominent Providers , research and advisory firm Novarica provides an overview of fraud in the insurance industry and claims fraud analytics technology, as well as profiles seven solution providers in this space.

"Fraudulent actors are responding by enhancing the sophistication and the scale of their efforts; carriers, on the other hand are responding by enhancing their fraud analytics capabilities," said Deb Zawisza, Vice President of Research and Consulting and co-author of Novarica's new report. "Larger insurers are very active in the deployment of fraud analytic capabilities, with 78% of carriers having some type of fraud scoring to support their traditional and digital claim practices. Midsize carriers are lagging slightly behind larger insurers, with 67% deploying some level of fraud scoring."

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

Bill Sinn

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and
its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are
helping insurers gain real advantage -- and a competitive edge --
in the marketplace. We’ll highlight the more successful InsurTech
partnerships, while offering case studies that demonstrate exciting
innovation and cutting-edge techniques impacting
all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today!
We look forward to seeing you in May, 2019!